W&T Offshore, Inc. Provides Production Guidance for the Third Quarter and Fourth Quarter of 2021
October 18, 2021 at 09:45 pm
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W&T Offshore, Inc. provided production guidance for the third quarter and fourth quarter of 2021. Relative to previously reported production for the second quarter of 2021, approximately 80% of the Company’s production was shut-in at one point as a result of Hurricane Ida. The majority of the impacted production was brought back online throughout September. As a result of this downtime, based on preliminary estimates, net production for the third quarter is expected to average between 34,200 and 35,100 barrels of oil equivalent per day (‘Boe/d’) (34% oil, 11% natural gas liquids, and 55% natural gas). Production for the fourth quarter is expected to average between 34,800 and 38,500 Boe/d (33% oil, 11% natural gas liquids, and 56% natural gas), which assumes the Big Bend and Dantzler wells are returned to production by the end of October as expected.
W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. It has a working interest in over 53 offshore producing fields in federal and state waters (which include 44 fields in federal waters and nine in state waters). The Company has under lease approximately 597,100 gross acres (440,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 435,600 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 8,000 gross acres in Alabama onshore. The Company's wholly owned subsidiaries consists of Aquasition Energy, LLC, Aquasition, LLC, Aquasition II, LLC, Aquasition III, LLC, Aquasition IV, LLC, Aquasition V, LLC, Green Hell, LLC, Seaquester, LLC, Seaquestration, LLC, and W & T Energy VI, LLC.
W&T OFFSHORE, INC. 
